Daily News: February 1, 2019

Seaport Loan Products Acts as New Admin Agent on LifeCare Term Loan

Seaport Loan Products, an affiliate of investment bank Seaport Global Securities, was selected as the replacement administrative agent on LifeCare Holdings’ term loan.

Seaport Loan Products provides end to end solutions, assisting settlements with asset servicing, wire generation, communications and assignments for lenders, borrowers, investors, regulators and auditors.

LifeCare is one of the largest long term acute care hospitals in the United States. It is headquartered in Plano, TX and has a system of free-standing long-term care hospitals.

Seaport Loan Products also recently created a loan agency desk run by Paul St. Mauro, a former senior vice president at Amroc Investments. This is the firm’s second agency deal.

Seaport’s goal is to expand in the space by providing clients access to market liquidity. The firm’s agency services includes the ability to provide monthly marks and support for all managed loans.

Michael Meagher, CEO of Seaport Global, said, “Our years of experience closing difficult transactions coupled with our extensive relationships adds tremendous value to the business of loan products administration.”